Insurance companies are losing money like crazy on property coverage so this is not likely to be the end of it.

Also, in this market, will people go on vacations and spend money on STR?

It doesn't take a rocket scientist to follow the money-bank transfers or receipts to show rent is being paid to the owner of the home or a PM and a copy of the lease. 

She also received extra money from Illinois Housing for a month I was no longer living there. 

You send money to people you don’t know and have never met hoping that they actually do what they are supposed to without any escrow company or Trust account involved.

I live at home with my parents currently and am trying to save money for a down payment. 

@Collin H.With credit card defaults and auto defaults on the rise as well as overall debt - people will start tightening the belts and first thing they will get rid of is spending on travel and vacations etc So reading this I am not surprised - how has 2024 been compared overall to last year ?

Hey, @Justin Kane you're correct that the more doors the more money. but due to having many doors, there are general expenses that increase there by decreasing cash flow. for instance. 

I am risk averse and if I were to purchase, I would tear down to the studs and do a full rehab {this would include getting rid of asbestos shingles and insulation).1) I have done a ton of research and it appears as if getting rid of asbestos is very DIY able assuming you spend money on the safety equipment and use it properly. 

You can do DSCR loans or Hard money loans, where they only focus on how well the subject property performs in terms of the rental aspects or the ARV aka after repair value.